I think induced demand is real, but it's a second-order effect. So while building one unit might attract an additional 0.1 people to an area (for example), it's

I think induced demand is real, but it's a second-order effect. So while building one unit might attract an additional 0.1 people to an area (for example), it's not going to attract more people than it houses. So building more housing is still the right thing to do to lower prices. Even if you don't get perfect efficiency of 1 person's housing needs met per 1 unit built, meeting the needs of 0.9 people is still pretty good.